Trump cannot secure bond in NY Fraud trial - The Great Awakening

Trump cannot secure bond in NY Fraud trial (www.reuters.com)

posted 241 days ago by WHOSkiddingWhO 241 days ago by WHOSkiddingWhO +24 / -0

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– WHOSkiddingWhO [S] 3 points 241 days ago +3 / -0

Trump's lawyers ask court for more time to before he has to put the money to stay the judgement.

Trump has failed to get appeal bond for $454 mln civil fraud judgment, lawyers say

Donald Trump has so far been unable to obtain a bond that would allow him to appeal a $454 million judgment against the former U.S. president in a New York civil fraud case without posting the full amount himself, his lawyers said on Monday. Trump must either find the cash or post a bond to prevent the state's authorities from seizing his properties while he appeals Justice Arthur Engoron's Feb. 16 decision ordering him and co-defendants to pay $464 million in penalties and interest

They said the defendants had so far approached 30 surety companies through four separate brokers to obtain a bond. "Enforcing an impossible bond requirement as a condition of appeal would inflict manifest irreparable injury on Defendants," Trump's lawyers wrote.

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– WHOSkiddingWhO [S] 3 points 241 days ago +3 / -0

https://abcnews.go.com/US/donald-trump-insurmountable-difficulties-securing-464m-bond-civil-fraud-case/story?id=108243028

While Garten said Trump is "financially stable" and maintains "substantial assets," the magnitude of the judgment would require him to use his real estate as collateral for the bond. So far, according to Garten's affirmation, no surety bond provider approached by Trump is willing to accept real estate as collateral, including Chubb, the insurance giant underwriting Trump's $91.6 million bond to cover the $83 million judgment in the E. Jean Carroll defamation case, plus interest. ...... Guilietti said in an affidavit that surety companies have not allowed the Trump Organization to use its properties as collateral, leaving the company with the only option of posting 120% of the bond in the form of cash and cash equivalents, totaling $557,491,716.

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